Mutual of America Capital Management LLC Has $9.60 Million Stock Position in NIKE, Inc. $NKE

Mutual of America Capital Management LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,085 shares of the footwear maker’s stock after selling 2,372 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NIKE were worth $9,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management boosted its holdings in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of NIKE in the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON boosted its holdings in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Cadence Bank boosted its holdings in shares of NIKE by 10.0% in the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after acquiring an additional 7,574 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NIKE stock opened at $67.46 on Monday. The firm has a fifty day moving average of $73.10 and a two-hundred day moving average of $67.48. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s payout ratio is presently 82.05%.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NKE shares. JPMorgan Chase & Co. boosted their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Argus upgraded shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.